Stocks, Cryptocurrency and Technology News: Crypto Investor News™

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Saturday, June 8, 2019

These 7 Tools Will Help You Calculate Your Crypto Taxes

Coinspeaker
These 7 Tools Will Help You Calculate Your Crypto Taxes

There is a famous quote stating that “in this world, nothing can be said to be certain, except death and taxes.” It’s a simple but indisputable truth that quickly spread to the realm of digital currencies.

Tax institutions, IRS in particular, take their jobs very seriously and they put a special emphasis on cryptocurrencies ever since the price of Bitcoin rose over 2,000% in 2017, from $953 to $20,089. The IRS’ Guidance on Virtual Currencies notes that cryptocurrency is not a currency but rather property, which means that you have to pay capital gains tax.

Keep in mind that those cryptocurrency buyers who just accumulate their digital wealth cannot be taxed. But if you are an active seller or trader, you better prepare to pay taxes accordingly. This is easier said than done because crypto-related tax calculations are everything but simple.

TaxToken

We open the list with TaxToken, a fresh crypto tax tool that quickly won over a lot of renowned clients in this field. TaxToken is a comprehensive platform with all the basic features you need to calculate taxes and create the corresponding forms.

This tool enables automatic data importing, so you don’t have to bother with manual entries of information coming from exchanges or electronic wallets. Of course, TaxToken precisely calculates each one of your transactions and determines possible gains or losses.

It also fills in and creates a complete version of the Form 8949 and Schedule D, the two files you need to send to IRS. The core version of TaxToken calculates up to 200 transactions and starts at $49, while the pro package costs $99.

Bear Tax

If you are looking for a simple and intuitive crypto tax tool, then you should probably choose Bear Tax. This platform is keeping things under control as it doesn’t force clients to bother with things they don’t care about.

Instead, Bear Tax does it all on your behalf – it monitors transactions, evaluates revenue, and calculates taxes. Even better, the tool integrates with as much as 25 major crypto exchanges, thus helping you to trade globally without worrying about tax files. If you are not performing more than 200 transactions annually, go for the Bear Tax Basic starting at $30 per tax year.

Bitcoin Taxes

Although the name suggests that this tool focuses on one cryptocurrency, Bitcoin Taxes actually covers a broad scope of other digital currencies such as Ethereum, Bitcoin Cash, Litecoin, and many more. As such, it represents an all-encompassing platform with all the functions you need to file taxes effortlessly.

It’s impossible to mention every feature of Bitcoin Taxes, but the highlights include capital gain analysis as well as income, donation, and closing reports. Besides that, Bitcoin Taxes has a user-friendly website with tons of valuable information for cryptocurrency traders, which makes it a great learning source, too.

Token Tax

Token Tax is one of the true leaders of crypto accounting due to its ability to make tax filling look like a simple business. The tool integrates with pretty much every important trading exchange in the world and monitors trading activities of each client individually.

Token Tax has no limits as it creates every file type you may need. This includes documents like FBAR, 8938, Schedule C, 8949, and all other files you may request. What we love about this platform is the fact that it even gives you suggestions on which coins to sell in order to reduce taxes.

Efficiency is what makes this platform a bit more expensive, but the majority of users should be fine with the basic version of Token Tax. It costs $65 and supports up to 500 transactions a year.

ZenLedger

ZenLedger is designed for professional cryptocurrency investors who need a fully reliable taxing tool. It works with almost every digital coin, exchange, and fiat currency out there. With ZenLedger, you can never overpay taxes because it takes even the smallest reductions into the final calculation.

But as a highly functional platform, ZenLedger does come with a notable price tag. Its starter package handles up to 500 transactions and $50 thousand total asset value for $149. However, professional crypto traders usually go for the unlimited package that costs $999.

Coin Tracking

Coin Tracking is yet another highly reliable taxing platform that can fulfill the needs of the most demanding investors. This tool displays real-time feedback related to cryptocurrency transactions, gains or losses, coin values, and so on. It monitors almost seven thousand digital coins and serves 390 thousand clients.

Coin Tracking has another important advantage – it administers over 10 years of cryptocurrency trading data, which often serves clients as a precious source of information and a way to identify new trends. The pro package costs $161 per year, but you can also choose to pay in Bitcoins.

Coin Tracker

We close the list with another excellent tool that makes the tax filing process smooth and simple. Coin Tracker is user-friendly and therefore suitable even for beginner-level traders. It doesn’t only help clients with crypto taxes but also gives them the opportunity to analyze investments and understand the overall performance of their transactions. The so-called Trader version of Coin Tracker costs $195 per tax year.

Conclusion

Calculating crypto taxes manually can turn into a long and annoying process. Even worse, it can get you nowhere if you are not a professional accountant who follows the latest trends in developments in the crypto niche.

This is exactly why most cryptocurrency traders use digital platforms to calculate taxes. We showed you the seven most practical tools here, so it’s up to you to test them and choose the one that suits your business requirements.

These 7 Tools Will Help You Calculate Your Crypto Taxes

Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries.

Blockchain 101 · Crytpo Currency Market
—————————————————
Trezor: Hardware Wallet
Binance: Exchange for Traders
Ledger Nano S: Hardware Wallet
Coinbase: Exchange for Investors
CoinSwitch: Wallet-to-Wallet Exchange

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Friday, June 7, 2019

XRP Price Analysis: XRP/USD Сonsolidates at $0.42, Awaiting a Movement Towards $0.39

Coinspeaker
XRP Price Analysis: XRP/USD Сonsolidates at $0.42, Awaiting a Movement Towards $0.39

Key Highlights:

The Bulls momentum is becoming weak;
XRP price may descend towards $0.39 level;
increase in the bulls momentum may place the price at $0.46 level.

XRP/USD Price Medium-term Trend: Bullish

Supply levels: $0.42, $0.46, $0.49
Demand levels: $0.39, $0.35, $0.29XRP/USD is bullish on the medium-term outlook. The Demand level of $0.39 eventually holds as predicted the last three days. XRP price reversed after the formation of the Tweezer bottom candle pattern. The bullish momentum pushed the coin upward towards the supply level of $0.42. The Bulls has pushed the price to touch the drawn bearish trend line and the resistance at the place prevents further increase in the price of XRP. As at the moment, the price is at $0.42 level consolidating.

The coin has crossed the 21 periods EMA and 50 periods EMA upside; the coin is above the two EMAs consolidating. However, the Moving Average Convergence divergence period 12 with its histogram is above zero level and its signal lines pointing up to indicate a buy signal. The Bulls will have to gain more pressure in order to push up the coin to reach $0.46 supply level. Should the Bears exert more pressure and defend $0.42 level, XRP price may decline towards the demand level of $0.39.

XRP/USD Price Sshort-term Trend: Bullish

On the short-term outlook, XRP/USD is bullish. XRP/USD was bearish last three days and it found support at $0.39 level on June 06. A bullish engulfing candle formed and the price increased towards the supply level of $0.42 where XRP is currently consolidating.

XRP/USD has already crossed the two EMAs upside and continue trading above 21 periods EMA and 50 period EMAs; which is the bullish movement signal. However, the MACD period 12 with its histogram is crossing zero level downside and the signal lines bending down to connotes sell signal.

XRP Price Analysis: XRP/USD Сonsolidates at $0.42, Awaiting a Movement Towards $0.39

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ConsenSys Co-Founder Joins a $100 Million Crypto Fund, Goes Long on Ethereum

Coinspeaker
ConsenSys Co-Founder Joins a $100 Million Crypto Fund, Goes Long on Ethereum

Yesterday, Andrew Keys announced that he is moving from ConsenSys to DARMA capital as the newest managing partner. He joins James Slazas, the former head of capital markets at ConsenSys. At the same time, he stays at ConsenSys at the advisory board.

DARMA (Digital Asset Risk Management Advisors) capital is a CFTC-regulated firm with approximately $100 million in assets under their management. These are the funds of the high-net-worth accredited investors which are meant for the Ethereum “Optimized Long fund”.

However, this Ethereum long position doesn’t stop at just being a long-term investment. The main idea for this Ether long-run is to accumulate more Ethereum. Andrew Keys revealed that his goal is to accumulate 1 percent of the total funds per month.

“So if you gave me 100 ether, my goal would be to produce 1 ether a month,” Keys says.

He explains that this is no “hodling”. Ultimately, their plan is to spot the market “highs” and “lows” in order to accumulate more digital assets.

Moreover, Keys has long been rooting for Ethereum. In 2018 he did an interview at the Economic Forum at Davos where he said:

“We will have a decentralized World Wide Web, and it will impact every aspect of our humanity. I’m going to be able to have peer-to-peer transactions with counter parties without a bank, or a Facebook, or an Uber, an Amazon, an eBay in the middle.”

DARMA Optimized Long-ETH Fund

Or in short – DOL-ETH, is a program which automatically manages investor digital asset portfolios. It is designed to identify the market cycles and not only hold the assets as such. Their main point is to “create alpha”, which is an investment strategy, which ultimately means to “beat the market” or spot the edge.

Moreover, the company already has plans for the upcoming future, as they won’t stop at an individual Ethereum Long fund. They are in the works to providing a Bitcoin in the upcoming months. However, an interesting decision is to offer a similar long fund on Filecoin. Andrew Keys explained that investors can expect this sometime next year:

“We believe [those tokens] will be the components of the next-generation internet and essentially there is a new asset class in what I would call crypto commodities. So we’re not interested at the application layer, we’re interested in the protocols that many different applications will use.”

Consensys and DARMA Will Work Together

As already mentioned, Keys transitioned from ConsenSys to working full time at DARMA, however, he will stay as an advisor at ConsenSys. Since Joseph Lubin founded Ethereum Foundation, their main field of operations is developing decentralized software services and applications that operate on the Ethereum Blockchain. ConsenSys has invested in DARMA in the past, and it will stay as an investor now.

Why DOL-ETH is Better Than Other Funds?

Keys explains that there’s a void in the market. He also believes that this Ether long fund is a simple solution and a necessary missing piece of the market.

“I think the investment stage, if you look at the PwC blockchain hedge fund report, over 70 percent of them have less than $10 million assets under management, half of them don’t use a custodian and it’s very immature. We have $100 [million] AUM, we have one of the best custodians in Opus, we have KPMG as an auditor,” explains Keys.

However, at the moment, only accredited investors, family offices and institutions can participate in this fund.

ConsenSys Co-Founder Joins a $100 Million Crypto Fund, Goes Long on Ethereum

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Apple (APPL) Stock Will Outperform Services Growth and iPhone Prices: Evercore Analyst

Coinspeaker
Apple (APPL) Stock Will Outperform Services Growth and iPhone Prices: Evercore Analyst

Is Apple stock outperforming? That’s what everyone from investors to analysts are trying to prove in the last few days. Evercore ISI analyst Amit Daryanani started coverage of the company with an Outperform rating and a $205 price target that is somewhat below FactSet’s average near $210.

Daryanani said:

“We believe the stock is undervalued at these levels. From a business-line perspective, we believe the company can continue drive strong momentum in services while increasing average selling prices to partially offset iPhone unit declines.”

But let’s look back to last year when Apple became America’s first trillion-dollar company. It then beat its Silicon Valley rivals such as Amazon and Microsoft but since everything that’s nice doesn’t last long, it was beaten this year by, again, Microsoft.

In just one year, Apple’s market capitalization fell to less than $850 billion. However, investors may still entertain hopes of seeing Apple hit 13 figures again.

Evercore analysts think that both revenue and sold units of Apple’s main product, the iPhone, will remain “muted.” Daryanani explained that we could see several catalysts that should enable AAPL stock to grind higher from current levels. He is looking for a rise to $205 per share within a year, which would add 12% to Apple’s market cap, putting it at about $950 billion.

Daryanani believes that Apple will launch a 5G-capable iPhone toward the end of its fiscal 2020, and that should lift both unit sales and revenue. He also advises that Apple could do more of a job by just positioning its iCloud offering as appealing to the enterprise market, making “a more unique and comprehensive solution for office productivity.”

Keeping an Eye on the U.S.-China Talks

However, the company is advising investors to be careful and to keep an eye on the U.S.-China trade talks:

“Thus far, Apple has managed to avoid tariffs on finished products, but it’s possible they will be impacted by future trade actions as Sino-American trade talks have broken down in recent weeks. The impact of tariffs will depend on both the applied tariff rate and Apple’s ability to pass costs onto customers. In our worst case scenario (25% tariffs, no cost passed on), we estimate Apple’s 2019 [earnings per share] could fall by ~21%.”

At the moment Apple seems to be safe from President Trump’s decision but he has been threatening to impose a 25% tariff on an additional $325 billion worth of Chinese exports to the U.S. The Chinese government has countered the Trump administration with their own tariffs.

It is not hard to imagine that, if the trade war escalates further, especially since the Chinese market is full of less expensive, Chinese-made smartphone options from the likes of Xiaomi and Huawei, this situation could make great damage to Apple.

We also shouldn’t forget that Apple recently announced news about investing $500M in video game and streaming video offerings that are more likely to grow the multiples investors are willing to pay for its business. In Apple’s 2018 financial report, for example, the company let on that it generated $37 billion from services, and earned 60% gross margin on those sales, and that’s very close to flagship-phone levels of profit.

Be it as it may, 87% of all profits earned by all smartphone makers around the world went to Apple, which is why the iPhone is a key to the business.

At the time of writing, Apple (AAPL) stock closed at $185.22 in the latest trading session, marking a +1.47% move from the prior day. The stock outpaced the S&P 500’s daily gain of 0.82%. At the same time, the Dow added 0.82%, and the tech-heavy Nasdaq gained 0.64%.

Apple (APPL) Stock Will Outperform Services Growth and iPhone Prices: Evercore Analyst

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Coinbase Custody Supports Blockchain Capital’s BCAP Security Token

Coinspeaker
Coinbase Custody Supports Blockchain Capital’s BCAP Security Token

In a very brief tweet, Coinbase Custody yesterday announced that now they are fully accepting Blockchain Capital’s security token BCAP for deposits and withdrawals.

As they describe themselves, Coinbase Custody “is an independent, NYDFS-regulated entity built on Coinbase’s crypto-first DNA, offering the most sophisticated and reliable custody solution in the world,” says in their website.

At the moment, Coinbase Custody supports 25 different crypto assets, including the top 5 most popular cryptocurrencies along with Basic Attention Token, Zilliqa, FOAM Token, Kin, Props token, and others. This way Coinbase is strengthening their positions as an all-out digital asset platform which now supports Security Tokens.

Blockchain Capital

Blockchain Capital is one of the oldest and most active venture investors in the blockchain industry and has financed 75+ companies and projects since its inception. Additionally, BCAP is the very first Security Token and conducted one of the very first STOs (Security Token Offering) in the crypto ecosystem. The token sale occurred on April 10, 2017, and was sold out after 30 minutes. In total, they raised $10 million, and the initial token price was $1 for 1 BCAP.

Blockchain Capital’s active investment portfolio has a lot of major leading crypto companies, including BitFury, ABRA, Kraken, Messari, ShapeShift, Ripple, XAPO, 0x, and of course Coinbase.

Coinbase Shows Interest in XAPO’s Bitcoin Custody Business

Referring to recent reports, Coinbase is in talks with a custody provider XAPO. The company is about to soon buy the custody provider for about as much as $50 million. Currently, they are negotiating, but it’s fair to say that the deal is almost finished. Xapo, founded in 2014, provides a Bitcoin wallet and a cold storage vault. The company declares that it holds $10 billion in crypto assets for its more than 1.5 million customers around the world. If the deal ends by signing the acquisition, Coinbase will get approximately 700,000 Bitcoin.

Also, in other news, Coinbase recently added EOS to their platforms, including Coinbase Earn. This gives crypto enthusiasts the ability to earn free EOS just by watching educational videos about EOS. Coinbase Earn also includes lessons about Stellar, Zcash, Basic Attention Token, 0x, and now EOS as well. Coinbase Earn was initiated in April 2018 by Balaji Srinivasan.

All-in-all, Coinbase is strengthening their positions as one of the largest and most profitable companies in the crypto environment. They started out in 2012 and today is used by more than 20 million people all around the world. To this day, for some, this is the easiest way how to purchase cryptocurrencies, so it is safe to say that Coinbase is actively encouraging mass-adoption.

Coinbase Custody Supports Blockchain Capital’s BCAP Security Token

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Ripple Acquiring MoneyGram Was Fake News But It Gave XRP Price the Boost

Coinspeaker
Ripple Acquiring MoneyGram Was Fake News But It Gave XRP Price the Boost

Yesterday someone calling himself @TheCryptHawk on Twitter circulated a false rumor about Ripple acquiring an international money transfer company MoneyGram.

Seems like it’s out! #Ripple acquired MoneyGram leading to a huge access / deal with Walmart! More to come believe me …

— CryptHawk (@TheCryptHawk) June 5, 2019

However, as it’s quickly found out, the same account (who, by the way, presents himself as a prominent crypto analyst) has been associated with, at least two different scams. One is a Ponzi bot and another could be a fake ICO for hardware wallet.

🚨HYPE/SCAM ALERT🚨@TheCryptHawk circulated a FALSE rumor earlier about @Ripple acquiring @MoneyGram.

WARNING: This account has been directly associated with, at least, two different SCAMs:

1) A PONZI bot.
2) A FAKE ICO for a hardware wallet.

DO NOT TRUST THIS ACCOUNT.

1/ pic.twitter.com/tS6qpPYT2z

— XRP Research Center (@XrpCenter) June 5, 2019

To be honest, there have been several claims that Ripple is planning something “big” for the near future, but none of them said anything being related to Ripple acquiring MoneyGram.

CryptHawk said that Ripple acquired MoneyGram on Monday after discussing some issues since November 2018.

Every PR is a Good PR

Several individuals and users on social media asked him how he got access to this information but he was not able to answer how. He kept repeating though that Ripple purchased the money transfer company earlier this week. He also said it’s a:

“Bitconnect sorcery with a bit of Justin Sun lunch sorcery.”

However, both companies stated that they do not comment on speculations and rumors as a rule, but should there be any official news, they’d let the public know, so – there was an obvious intention to push both coin and stock a little bit up. Every PR is a good PR even the fake one, right?

But let’s be serious, the truth is MoneyGram, founded back in 1940, was on sale recently as it’s trying to deal with falling revenues and restructure its debt pile, which reportedly totaled USD 902.8 million as of the end of September 2018 and comes due next year.

Also, the company’s first quarter didn’t sound promising as said:

“The Company ended the first quarter of 2019 with a cash and cash equivalents balance of $129.9 million compared to $145.5 million at the end of 2018. First quarter interest expense was $13.9 million and capital expenditures for the first quarter were $12.7 million.”

What destroyed them the most, was the $1.2 billion deal with Ant Financial, owned by Jack Ma, the executive chairman of Chinese giant Alibaba Group Holding. In January last year the deal fell apart after a U.S. government panel rejected it due to national security concerns.

In a deal with Ant Financial, the company would be sold for USD 18 per share, or more than USD 1 billion. Now, its share price in the market stands at USD 1.41, while its market capitalization is USD 83.5 million. It’s pretty reasonable why would they be thinking of selling.

There Actually Is a MoneyGram – Ripple Partnership But…

However, it is true that Ripple and MoneyGram had been collaborating in the past. In 2018, they signed a partnership in order to improve the payments sector. MoneyGram decided to integrate the xVia product released by Ripple.

But, bare in mind that four weeks ago, a card company VISA announced that it has acquired control of Earthport, the company that has a payments network with banking relationships in 87 countries and is a Ripple partner. VISA said they are planning to use its network to create an alternative to SWIFT payments. The market size for money sent by wire transfer or bank accounts globally is $80 trillion.

And even though For Ripple, acquisition of MoneyGram would be a huge thing, just last month, Ripple partnered with MoneyGram’s competitor, money transfer company Ria Money Transfer, a subsidiary of payment service provider Euronet Worldwide.

Be it as it may, it seems that something like that won’t happen in the soon future but we hope @Crypthawk got his money back since there was a massive growth of 8 percent that now is back to 5 percent with the XRP price of around $0,42.

Ripple Acquiring MoneyGram Was Fake News But It Gave XRP Price the Boost

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Leading Indian Blockchain Big Data Company ZEBI Announces Mainnet Launch and New Products for 2019

Coinspeaker
Leading Indian Blockchain Big Data Company ZEBI Announces Mainnet Launch and New Products for 2019

India’s leading blockchain company, Zebi, has created a globally innovative big data platform that showcases the real-world applications of blockchain and encryption technologies. After a successful ICO in 2018, Zebi effectively deployed its multilevel blockchain-based ecosystem across several industries.

Founded with the goal of building global trust through blockchain technology, Zebi aims to create and strengthen Important business relationships. Zebi has implemented its technology on a global scale, transforming the lives of millions of people, using the principles of transparent data-storage and audit. The company provides high-level, blockchain-based security measures to protect all the personal and commercial data of its clients.

The Indian government has been very supportive of Blockchain technology, as its innovation offers immutability, and transparency, which is easy to audit, and enhances trust and governance efficiency. Right now Zebi falls well within this category.

What are the Zebi Products?

Zebi Asset Chain – Offers peace of mind to buyers and sellers, while enhancing trust in the titles issued by the government.
Zebi Edu Chain – Helps Universities protect their brand image, reputation, and brings efficiency to the corporates during the hiring process used for credential verification.
Zebi AI Chain – Enables police to enforce compliance of the local laws, enables hotels to be compliant seamlessly, and ensures the safety of the guests.

Zebi’s other world-class products include Tele Chain for the Telecom industry, Log Chain for the Logistics industry, and Fin Chain for the Stock trade Advisory. Zebi currently has customers across several fields including finance, hospitality, government, and educational sector.

Sudheer Kuppam, CEO and Co-Founder of Zebi, spoke recently at a conference about the range of Zebi products, stating:

“Currently, about 2 million individuals are benefitted from Zebi deployments. We currently cover 35 universities spanning 700+ colleges and 1M+ students. We cover 6 government institutions for the permits and licenses covering about 400K+ people. We cover 1000+ hotels in one state covering identity data”,

Zebi Coin (ZCO)

Zebi’s utility token, Zebi Coin (ZCO) offers an attractive incentive for its users, for the settlement of Zebi ecosystem transactions. A small amount of ZCO is paid by the requestor for a data transaction, then distributed between the data provider, and the Zebi platform. As a reward.

Zebi uses smart contracts to execute the split of ZCO rewards, and can even be adjusted with the consensus of all parties. ZCO Coin has already achieved an impressive history of exchange listings, including Bitker, Bitmart, Coineal, CoinTiger, Hotbit, IDEX, LAToken, Liquid, Koinex, OKEx, and Wazirx.

Zebi Mainnet

The Zebi mainnet, (expected August 2019) and Zebi Pay system implementation, will help Zebi to expand the market and achieve bigger results on a global level. The Zebi pay platform will facilitate secure data exchange on the Zebi public blockchain ecosystem. The platform will offer full services in both FIAT currencies like Euro, INR, US Dollars, and cryptocurrencies such as BTC and ETH. For all currency payments, Zebi pay platform will give its users a completely seamless experience.

Zebi is a company with products that provide real-world applications, and can already be used for paying customers and revenues in the blockchain space. Zebi products are already having a positive effect in India, and other emerging markets.

With the ICO boom now firmly in the past, the strongest companies are starting to showcase their value. Already the largest blockchain company in India, Zebi brings a well realized, real-world service to the market, backed by a strong token with proper utility, and ecosystem.

Partnerships

Zebi is currently welcoming partnerships, inquiries can be sent to the Zebi contact email address and can be reached directly through the official Zebi website. The Zebi team look forward to Introducing more Individuals to blockchain technology and Improving numerous aspects of their lives.

Leading Indian Blockchain Big Data Company ZEBI Announces Mainnet Launch and New Products for 2019

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Facebook’s Global Coin Finds Its Applications In Russia’s Oil Industry Even Before Launch

Coinspeaker
Facebook’s Global Coin Finds Its Applications In Russia’s Oil Industry Even Before Launch

The only discussion which is currently dominating the crypto world is the arrival of Facebook‘s native cryptocurrency, the Global Coin. Citing a report from The Information, CoinSeaker reported that the Global Coin launch could happen ahead this month. But just before the launch, the Global Coin has already started finding its applications.

According to the local report, Russia’s oil industry is currently looking for a possible use-case of Facebook’s Global Coin. To boost its economy, Russia is currently looking to expand its energy industry while gaining regional dominance wherever possible.

On the other hand, Russia has remained mostly uncertain of its future crypto plans. The cryptocurrency regulatory rules are long overdue which can put a clear picture of Russia’s stand. We expect Kremlin to soon come up with a decision on this matter.

Banking of Facebook’s Crypto Growth

Facebook’s entry in the crypto space is lauded by many as a potential game-changer for the crypto industry. Looking to its massive 2 billion user-base across the globe, Facebook‘s entry will give a massive push to crypto adoption. Mike Novogratz, the CEO of Galaxy Digital Holdings said that “Facebook is wildly important for the [crypto] ecosystem”.

Using Facebook’s Global Coin to measure the price of the oil barrels indicate that it could largely impact the global finance. Besides the Global Coin being a dollar-pegged stablecoin cut off the issues of volatility which other traditional cryptocurrencies like Bitcoin are facing.

During the Facebook Developer conference earlier this year, Mark Zuckerberg has already hinted that ‘payments’ shall be the company’s major area of focus in the coming year. However, despite its aggressive push, Facebook is likely to face some regulatory hurdles in its way ahead.

Regulatory Challenges Ahead

Rebecca Harding, the former chief economist at the British Bankers’ Association, notes that Facebook isn’t regulated the way banks are and neither the cryptocurrencies are regulated the way fiat currencies are. Besides, Facebook’s Global Coin must pass through all checks of KYC rules and anti-money laundering procedures.

Taking cognizance of this fact, Facebook has already approached the CFTC regulator for this matter. Besides, Mark Zuckerberg has reportedly met Bank of England governor Mark Carney in April 2019. Zuckerberg has reportedly Carney the benefits of using cryptocurrency to reduce financial barriers and costs.

On the other hand, Facebook’s reputation has not been so good off lately while dealing with customer information and privacy. Moreover, the social media giant has centralized control over its user and has been banning people because of their political beliefs. Thus, if Facebook continues to ban such people, they would be cut-off from the financial system.

Taking all these factors under consideration, it would be interesting to see how Facebook manages to sail through them.

Facebook’s Global Coin Finds Its Applications In Russia’s Oil Industry Even Before Launch

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Pay with Crypto with Apple Pay and Samsung Pay with the Zeux App

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Pay with Crypto with Apple Pay and Samsung Pay with the Zeux App

Zeux has managed to address a real pain-point for everyday crypto users, providing full capabilities to simplify financial services, provide fast and easy crypto payments and investment returns – all in one app.

Use Crypto Payments in Everyday Life

Zeux has revolutionized crypto payments for everyone. Rather than wait for merchants to accept crypto, Zeux has created a solution to allow them to pay with crypto in all stores that accept Apple Pay or Samsung Pay – and in just one click.

They have simplified the concept to allow customers to spend their cryptocurrencies like they would any traditional currency. Recently they have announced multiple Chain partnerships which means apart from Bitcoin, Ethereum and USDT, you can use Qtum, VeChain, Bitcoin SV, NEO, NEM and IOTA to pay in stores.

This means as the value of crypto is on the rise, customers can take advantage, at any given moment, to make real-world purchases from their gains. A real game changer. What makes it even better? Zeux charges no added fees for payments, crypto-conversion or transfers giving maximum benefits for the consumer.

Zeux has also signed with Coinbase, a crypto trading venue currently valued at $8 billion that generated $1.3 billion in revenue in 2018. This collaboration is a significant upgrade as Coinbase will function as a crypto-fiat gateway for Zeux’s crypto payments.

About Zeux

Zeux has just completed the presale of their token ZeuxCoin (ZUC) at the end of May, which gives holders cashback on crypto payments and reduced investment transaction fees, which raised 5000 ETH in less than 2 full days. Their token sale is live now on their website from 7 June – 5 July 2019.

Zeux is available in the UK on iOS and Android, launching across the rest of Europe later this year and the wider-world in 2020.

Pay with Crypto with Apple Pay and Samsung Pay with the Zeux App

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Thursday, June 6, 2019

Bittrex Turns to Standard Tokenization Protocol for IEO Blast-Off

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Bittrex Turns to Standard Tokenization Protocol for IEO Blast-Off

It is confirmed that Bittrex has now officially joined the IEO race. The exchange announced that it will host the initial offering of STP or Standard Tokenization Protocol. Initial Exchange Offerings are similar to ICOs but they are administered by an exchange. The entrance of Bittrex into the world of IEOs shows that this crowdfunding model is rapidly gaining popularity.

As more exchanges join the nascent investment opportunity, IEOs are proving to be a major source of new capital for the crypto industry. Mike Chen, the STP CEO, said that the protocol can unlock ‘trillions’ of dollars in value. Thus, trade and token issuance will become easier. He announced that:

“The cost-prohibitive nature of traditional funding methods has led to a rapidly increasing demand for solutions that simplify asset offerings. STP is in a unique position to save billions of dollars for companies and start-ups that cannot attain funding due to the costs involved with hiring security lawyers, accountants, and investment banks.”

Chen also suggested that the project has the potential to enhance the entire crypto economy. It will improve the economy by making it easier to move value while minimizing illiquidity premiums. He said:

“Initially, Block72 set out to support the crypto ecosystem by helping blockchain projects around the world. But projects are only half the equation. With the launch of STP, we now have the ability to fulfill the needs of crypto users worldwide, as well as projects.”

STP Can Tokenize Everything

STP is believed to be a blockchain of all things. It is the latest among many products aiming to revolutionize many other industries by making it possible to ‘tokenize any asset.’ As we published earlier, STP’s platform will allow for the compliant and transparent tokenization of any asset.

It would prove beneficial since an easily readable asset portfolio would appear better to any bank compared to all sorts of random documents. If it succeeds, people will see less need for bank accounts which will prompt banks to work harder to attract business. The STP will let people take more than just their money.

Anybody owning houses, cars, jewelry, and anything else that would benefit from insurance cover, can carry it with them just like crypto. This strategy can work for things like gold bars. In the end, such things might be stored in blockchain-enabled vaults.

Ownership can change hands many times. However, the goods can only be picked by the person with the key issued for the lock. That is what can be traded. In the meantime, however, the third-party service can authenticate the contents of a locker.

STP Sale

The sale of STP starts at 10 AM EDT on Tuesday, June 11^th. It will continue for 24 hours or until all tokens are sold. STP targets $750,000 from the sale with individual contributions capped at around $2,500.

75 million tokens are allocated for the sale with the maximum supply of the STPT coins set at 2 billion.

Bittrex has already launched other token sales in the past with mixed success. The first IEO was RAID. It was canceled after the termination of key partnership. Ocean Protocol IEO was considered a flop after the token price collapsed, although it has so far recovered considerably.

Bittrex Turns to Standard Tokenization Protocol for IEO Blast-Off

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Bitpanda Goes Global: Announcing the Bitpanda Global Exchange and the IEO for the Ecosystem Token BEST

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Bitpanda Goes Global: Announcing the Bitpanda Global Exchange and the IEO for the Ecosystem Token BEST

Vienna-based fintech Bitpanda will launch the Bitpanda Global Exchange, a global cryptocurrency exchange for experienced traders, professionals and institutions. The Bitpanda platform will also get its own ecosystem token through an Initial Exchange Offering (IEO). BEST (Bitpanda Ecosystem Token) will offer a range of benefits and incentives to nearly 1 million Bitpanda users.

The Bitpanda Global Exchange allows global crypto-to-crypto and fiat-to-crypto trading
Popular trading pairs including BTC/EUR, BTC/USDT, ETH/EUR, XRP/EUR, MIOTA/EUR, ETH/BTC, XRP/BTC, MIOTA/BTC, PAN/BTC, BEST/BTC, BEST/EUR and BEST/USDT.
Fiat deposits (Euro, Swiss Franc and British Pound) in the majority of European countries; withdrawals available globally
Bitpanda Ecosystem Token (BEST) IEO launches on July 9th, 2019
BEST offers up to 25% trading fee discount plus additional rewards and perks
Growing list of popular trading pairs and funding options
Competitive fee structure
State-of-the-art API
Highest security standards
BEST trading will start on August 7th, 2019

Bitpanda, the Viennese fintech with around 1 million users and more than 100 employees is launching the Bitpanda Global Exchange, a digital asset exchange for experienced traders, professionals and institutions. Bitpanda Global Exchange (Bitpanda GE) builds upon the popular, easy-to-use Bitpanda platform, which is the go-to-place to buy, sell and store digital assets like Bitcoin, Ethereum, digitised gold and more in Europe.

Bitpanda GE is available globally for crypto-to-crypto trading. Verified Bitpanda users within the majority of European countries can also deposit Euro, Swiss Franc and British Pound. Bitpanda GE is closely connected to the Bitpanda platform, which means that users can move funds easily between them. Bitpanda GE launches with popular trading pairs such as BTC/EUR, BTC/USDT, ETH/EUR, XRP/EUR, MIOTA/EUR, ETH/BTC, XRP/BTC, MIOTA/BTC, PAN/BTC, BEST/BTC, BEST/EUR and BEST/USDT and many more to come.

Bitpanda CEO Eric Demuth says:

“Offering experienced users, a way to trade digital assets and building the largest Euro exchange is the next logical step for us. Bitpanda has been around since 2014 and we are a key player in Europe. We can build on a lot of synergies and experience.”

As part of the Bitpanda Global Exchange launch, Bitpanda is also launching its first Initial Exchange Offering (IEO). The Bitpanda Ecosystem Token (BEST) is the coin of the Bitpanda ecosystem that offers users a wide range of benefits and perks within the Bitpanda ecosystem. The growing community of around 1 million Bitpanda users will be able to benefit from a wide range of rewards and perks.

For example, they will get a reduction of up to 25% on Bitpanda trading fees, gain priority access to the upcoming Bitpanda Launchpad, which will be available later and allow the launch of third party IEOs.

Eric Demuth says:

“BEST will play a vital role in Bitpanda’s global expansion and in making our vision of democratising personal finance and investing. BEST is the fuel of the Bitpanda ecosystem, which means that the Bitpanda platform, the Bitpanda Global Exchange and future products like the Bitpanda Launchpad will make heavy use of incorporating BEST.”

About Bitpanda

Bitpanda is a fintech based in Vienna, Austria founded in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer. The company is a firm believer in the innovative power of cryptocurrencies, digitised assets and blockchain technology.

Bitpanda’s mission is to tear down the barriers to investing and bring traditional financial products to the 21st century. Today, Bitpanda has around 1 million users and more than 100 team members. With a PSD2 payment service provider license, state-of-the-art security and streamlined user experience, Bitpanda has grown into a popular trading platform for newbies and experts alike. Users can currently trade Bitcoin, Ethereum, gold and over 20 other digital assets.

Bitpanda Goes Global: Announcing the Bitpanda Global Exchange and the IEO for the Ecosystem Token BEST

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Cryptocurrency Exchange Analysis: eToroX Exchange Review June 2019

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Cryptocurrency Exchange Analysis: eToroX Exchange Review June 2019

Supported Currencies

eToroX offers 17digital assets: 5 cryptocurrencies and 10 Tokenized Assets. eToroX is in the midst of creating numerous variations of tokenized and digital assets. Seems like eToroX added the most popular cryptocurrencies to the current listings on its platform. The same strategy has also been used by other exchanges, in their early stages. eToroX’s current range of trading pairs and tokenized assets is surprisingly sizable, considering it was only released recently.

eToroX Exchange Fees & Limits

Trading fees refer to the actual cost of carrying out a trade (buying/selling) on eToroX exchange. The fees associated with a cryptocurrency exchange play an important role for users in evaluating the cost of trading relative to other exchanges in the market. Exchange fees currently are:

Withdrawal

Each coin has a different fees & limits. Here are the current fees applicable for withdrawals:

It should also be highlighted that eToroX supports credit card purchases of cryptocurrencies within the eToro wallet. This means that users can buy coins directly using their credit cards. However, the currencies supported at the moment are British Pounds (GBP) and Euro (EUR) only.

Liquidity

Users pay close attention to the trading liquidity of an exchange – or, in other words, buyers and sellers trading en masse in a particular exchange equates to higher trading liquidity, which helps enable fair prices and allows traders to get in and out of trades faster. Analyzing the order book of the most popular trading pairs on the exchange is a very good way to check liquidity. Here we examine eToroX’s most popular trading pair, BTC/USD, to evaluate its liquidity:

eToroX has good liquidity. This is largely due to the company working with market makers connected to some of the top 15 exchanges, in which aggregated liquidity is placed directly on the platform.

Advantages

Established Track Record & Market Expertise: eToro is a global multi-asset investment platform with over 10 million registered users. They possess considerable experience in the traditional finance industry, given that eToro was formed in 2006.
Regulated Exchange: Being only one of the few regulated entities under the Gibraltar regulatory authority (GRA) with a distributed ledger technology (DLT) licence from the Gibraltar Financial Services Commission (GFSC) is a major sign of credibility for users. Regulation entails governance and accountability, which is lacking in the cryptocurrency space. As a regulated entity, eToroX is required to invest a significant amount of resources and effort to ensure the right technical and control measures are in place for the protection of all stakeholders, especially users. Being granted the green light by regulators is a major sign of credibility and trust.

Disadvantages

Low Liquidity: The average liquidity of eToroX exchange is thin and is unable to support the market depth of most other cryptocurrency exchange. This is natural given the infancy of the exchange.

Cryptocurrency Exchange Analysis: eToroX Exchange Review June 2019

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Ripple Expands to Switzerland with a New Office in Zurich

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Ripple Expands to Switzerland with a New Office in Zurich

According to Moneyhouse, Ripple obtained commercial registry in Switzerland within the sector for services for banks and credit institutions. They have specified that the main purpose will be selling digital assets, such as XRP, to institutional buyers.

Also, the registry documents describe that the company “may establish branches and subsidiaries in Switzerland and abroad, engage in other business activities in Switzerland and abroad and conduct any business directly or indirectly related to the purpose.”

However, the company was founded just a few days before the registry, hence on May 29 and the official Moneyhouse website isn’t working at the moment. Nevertheless, Ripple now resides among many banks, since Zurich is known as the city with the most number of banks.

June 4, 2019

*.@Ripple Switzerland LLC obtains Commercial Registry*

• Social purpose:

“sale of digital assets #XRP to institutional buyers”

• Incorporation date:29/05/19
• Headquarters: Zürich
• Sector: Services for banks and credit institutionshttps://t.co/Lt4TMxOj4q pic.twitter.com/cwO4lM3J2Q

— XRP Research Center (@XrpCenter) June 5, 2019

Ripple Shines in Swiss National Bank Conference

Recently in May, Ripple CEO, Brad Garlinghouse went on stage and did a presentation about Ripple and blockchain in general. He explained to multiple commercial bankers the potential that blockchain can bring to financial transactions.

Moreover, of course, he told the bankers about how Ripple can help solve the international payment system deficiencies with their blockchain solutions. He went on explaining that the SWIFT system has not kept up with the age of the internet, and “is slow, unreliable and expensive.”

Ripple’s xRapid Expands to Brazil, Argentina and Thailand

Recently CoinSpeaker reported that Ripple CEO Brad Garlinghouse announced that xRapid, the XRP-powered cross-border payments system, has now reached Brazil and Argentina. Speaking at the Swiss National Bank’s conference on the international monetary system, he disclosed the new corridors opened for xRapid when he was asked about the recent achievements of his company:

“People are getting liquidity that exists in the marketplace in local regions between XRP and the Philippine peso, XRP and the Argentine peso, XRP and the Brazilian real. And it’s tapping into that liquidity that exists in the marketplace,” Brad Garlinghouse said.

Moreover, the biggest bank of Thailand, Siam Commercial Bank, recently announced that they now are using Ripple’s RippleNet for international transactions. With this implementation, they have reduced the transaction time from 2 days to just 1 minute.

While XRP community immediately started speculations over what this partnership could mean for XRP, then, Thailand’s largest commercial bank stated that they will be using Blockchain Technology for Ripple but as for XRP, its customers may have to wait for further announcement.

Be as it may, the announcement has actually been made, as the bank tweeted:

XRP system will be announced soon.

Please follow our official schedule on social media again.

— SCB Thailand (@scb_thailand) June 5, 2019

All in all, with these recent moves, Ripple is slowly but effectively entering the mass-adoption stage.

*To learn more about XRP coin, Ripple company, and their innovative solutions, please check out our awesome Ripple guide.

Ripple Expands to Switzerland with a New Office in Zurich

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Ethereum Price Analysis: ETH/USD Price Consolidates Below $258, Awaiting a Breakout

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Ethereum Price Analysis: ETH/USD Price Consolidates Below $258, Awaiting a Breakout

Key Highlights:

Ethereum price is under bearish pressure;
the Bulls may eventually prevail;
consolidation is ongoing in the Ethereum market.

ETH/USD Medium-term Trend: Bearish

Supply Zones: $258, $289, $318
Demand Zones: $225, $191, $102On the medium-term outlook, Ethereum is bearish. Ethereum maintains its bearish position on the 4-hour chart. On June 03, a bearish engulfing candle emerged and this geared up the Bear’s momentum. Former demand zone of $258 was penetrated and Ethereum price dropped below the level.

Bigger bearish candles formed and the bearish pressure was extended towards $225 level. The mark could not be reached before the Bulls interrupted and the price started consolidating. Ethereum price action has formed a falling wedge pattern on the 4-hour chart.

ETH price retains its trading below 21 periods EMA and 50 periods EMA, the latter is above the former as an indication of bearish movement. The Moving Average Convergence Divergence period 12 is faintly above the zero levels with the signal lines flat without showing any specific direction; this indicates that consolidation is ongoing in the 4-hour chart.

Should there be a breakout at the upper trend line of the wedge by the Bulls; the price may rally towards $289 level provided the $258 level does not hold. In case the Bears push the coin and it breaks out at $225, the price may find support at $191.

ETH/USD Short-term Trend: Bearish

On the short-term outlook, ETH price is bearish. The coin dropped from the high above $258 level on June 03 and rolled down towards the demand level of $225. The Bulls opposed further decrease in price and the coin changed the direction towards the north side. Meanwhile, Ethereum is trading within the falling wedge pattern formed on the chart. The price is currently consolidating between $225 and $258 level.

The crypto is trading in between the 21 periods EMA and 50 periods EMA as a sign of consolidation. The Moving Average Convergence Divergence period 12 with its histogram is flat horizontally at the level and the signal lines are equally flat at the zero levels; which indicates that consolidation may continue for short period of time.

Ethereum Price Analysis: ETH/USD Price Consolidates Below $258, Awaiting a Breakout

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